FDX
As can be seen above, the stop-loss on my FDX short trade was triggered causing a small loss with slippage.
Learning Point
FDX appears to be highly correlated with the RUSSELL 2000 (RUT). Therefore, I re-acknowledge that I should be very mindful of what the broader market is doing (RUT) before deciding to trade FDX, or any other stock on the US Stock exchange if I intend to carry out the highest probability trades.
As shown below:
RUT
The RUT appears to be ranging on the 4 hour timeframe; therefore, currently, there is no trading certainty.
As a result, when trading FDX, it would have been better to stay out of the market, or intentionally trade the range by going long.
Next Action
- Update new trading spreadsheet with latest FDX trade.
- Continue to monitor the price action of RUT and FDX everyday.
- Consider carrying out high probability trades only by ensuring that the broader market is always in alignment with the intended traded asset.
- Continue to take a very balanced approach to trading so that you will not feel overwhelmed at any point.
